Gas Natural Fenosa sees decline in profit

Image courtesy of Gas Natural Fenosa
Image courtesy of Gas Natural Fenosa

Spanish LNG operator Gas Natural Fenosa reported a 15 percent lower net profit of 930 million euros (US$1.03 billion) in the January-September period when compared to a year ago.

Earnings before tax and amortisation (Ebitda) for the nine-month period were 3.64 billion euros, down 6.8 percent on year, Gas Natural Fenosa said in a statement on Wednesday.

GNF said these numbers were affected by a “very demanding macroeconomic and energy environment which had a particular impact on the contribution by the gas procurement and supply business.”

Total gas sales for the first nine months dropped 0.9 percent to 213 TWh, due to a decline in Spanish sales which fell by 5.3 percent to 111.4 TWh.

GNF, that according to its website has a fleet of 8 LNG tankers with a capacity of 1.2 million cubic metres, spent 206 million euros in September this year on the purchase of a new LNG carrier. The vessel was acquired under financial lease, Spanish utility noted in the statement.

 

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

LNG Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

FLNG World Congress 2019

2019 FLNG World Congress will bring together stakeholders across the floating liquefaction value…

read more >